Qern: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
What changed
Qern
NACE 71.121, Engineering and related technical consultancy, excluding land surveyors
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€155,326
2024 · €21,244+€134,082
Equity
€603,806
2024 · €448,480+€155,326
Cash
€109,685
2024 · €108,859+€827
Balance sheet total
€1.4m
2024 · €1.5m-€49,558
Largest movements
Assets
- Receivables within one year -€25,093
down €25,093 (-3.6%), from €703,508 to €678,415
of which Other amounts receivable: -€91,591
Equity and liabilities
- Other debts -€247,291
down €247,291 (-92.3%), from €267,855 to €20,563
- Reserves +€155,326
up €155,326 (+36.1%), from €429,880 to €585,206
- Current portion of long-term debt +€150,210
up €150,210 (+399.0%), from €37,642 to €187,853
- Advances received -€70,980
down €70,980 (-41.7%), from €170,302 to €99,322
- Debts after one year -€37,839
down €37,839 (-22.0%), from €172,358 to €134,519
Income statement
- Staff costs -€181,565
down €181,565 (-10.2%), from €1.8m to €1.6m
- Gross operating margin -€48,548
down €48,548 (-2.5%), from €1.9m to €1.9m
- Taxes +€38,861
up €38,861 (+141.7%), from €27,427 to €66,288
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Result 2024
€21,244
Gross operating margin
-€48,548
Staff costs
+€181,565
Depreciation
+€9,439
Write-downs
+€14,593
Other operating charges
+€1,569
Financial income
+€10,730
Financial charges
+€3,596
Taxes
-€38,861
Result 2025
€155,326
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
-€78,169
Investment
-€33,377
Financing
+€112,372
Cash 2024
€108,859
From operations (derived)
-€78,169
Net result for the year
+€155,326
Depreciation
+€56,825
Stocks and contracts
+€10,057
Receivables within one year
+€25,093
Deferred charges and accrued income
-€8,213
Trade debts
+€37,270
Tax, wage and social debts
-€19,405
Advances received
-€70,980
Other debts
-€247,291
Accrued charges and deferred income
-€16,849
Investment (derived)
-€33,377
Investment in fixed assets (net)
-€33,377
Financing
+€112,372
Debts after one year
-€37,839
Current portion of long-term debt
+€150,210
Cash 2025
€109,685
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,484,668 | €1,435,109 | -€49,558 | -3.3% |
| Fixed assets | 21/28 | €268,836 | €245,388 | -€23,448 | -8.7% |
| Intangible fixed assets | 21 | €17,470 | €6,878 | -€10,593 | -60.6% |
| Tangible fixed assets | 22/27 | €248,201 | €237,911 | -€10,290 | -4.1% |
| Land and buildings | 22 | €196,999 | €170,217 | -€26,782 | -13.6% |
| Plant, machinery and equipment | 23 | €38,794 | €61,638 | +€22,844 | +58.9% |
| Furniture and vehicles | 24 | €12,408 | €6,056 | -€6,353 | -51.2% |
| Financial fixed assets | 28 | €3,165 | €600 | -€2,565 | -81.0% |
| Current assets | 29/58 | €1,215,831 | €1,189,721 | -€26,110 | -2.1% |
| Stocks and contracts in progress | 3 | €368,038 | €357,981 | -€10,057 | -2.7% |
| Contracts in progress | 37 | €368,038 | €357,981 | -€10,057 | -2.7% |
| Amounts receivable within one year | 40/41 | €703,508 | €678,415 | -€25,093 | -3.6% |
| Trade receivables | 40 | €597,458 | €663,956 | +€66,498 | +11.1% |
| Other amounts receivable | 41 | €106,050 | €14,459 | -€91,591 | -86.4% |
| Cash at bank and in hand | 54/58 | €108,859 | €109,685 | +€827 | +0.8% |
| Deferred charges and accrued income | 490/1 | €35,427 | €43,640 | +€8,213 | +23.2% |
| Total equity and liabilities | 10/49 | €1,484,668 | €1,435,109 | -€49,558 | -3.3% |
| Equity | 10/15 | €448,480 | €603,806 | +€155,326 | +34.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €429,880 | €585,206 | +€155,326 | +36.1% |
| Distributable reserves | 133 | €429,880 | €585,206 | +€155,326 | +36.1% |
| Amounts payable | 17/49 | €1,036,188 | €831,304 | -€204,884 | -19.8% |
| Amounts payable after more than one year | 17 | €172,358 | €134,519 | -€37,839 | -22.0% |
| Financial debts | 170/4 | €172,358 | €134,519 | -€37,839 | -22.0% |
| Amounts payable within one year | 42/48 | €846,981 | €696,785 | -€150,197 | -17.7% |
| Current portion of amounts payable after more than one year | 42 | €37,642 | €187,853 | +€150,210 | +399.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €106,064 | €143,334 | +€37,270 | +35.1% |
| Suppliers | 440/4 | €106,064 | €143,334 | +€37,270 | +35.1% |
| Advances received on contracts in progress | 46 | €170,302 | €99,322 | -€70,980 | -41.7% |
| Taxes, remuneration and social security | 45 | €265,119 | €245,713 | -€19,405 | -7.3% |
| Taxes | 450/3 | €91,207 | €76,584 | -€14,623 | -16.0% |
| Remuneration and social security | 454/9 | €173,911 | €169,129 | -€4,782 | -2.7% |
| Other amounts payable | 47/48 | €267,855 | €20,563 | -€247,291 | -92.3% |
| Accrued charges and deferred income | 492/3 | €16,849 | €0 | -€16,849 | -100.0% |
| Remuneration, social security and pensions | 62 | €1,784,184 | €1,602,619 | -€181,565 | -10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,263 | €56,825 | -€9,439 | -14.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €15,403 | €810 | -€14,593 | -94.7% |
| Other operating charges | 640/8 | €3,064 | €1,495 | -€1,569 | -51.2% |
| Gross operating margin | 9900 | €1,935,742 | €1,887,193 | -€48,548 | -2.5% |
| Operating profit (loss) | 9901 | €66,828 | €225,445 | +€158,617 | +237.4% |
| Financial income | 75/76B | €373 | €11,103 | +€10,730 | +2876.3% |
| Recurring financial income | 75 | €373 | €11,103 | +€10,730 | +2876.3% |
| Financial charges | 65/66B | €18,530 | €14,934 | -€3,596 | -19.4% |
| Recurring financial charges | 65 | €18,530 | €14,934 | -€3,596 | -19.4% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €48,671 | €221,614 | +€172,943 | +355.3% |
| Income taxes | 67/77 | €27,427 | €66,288 | +€38,861 | +141.7% |
| Profit (loss) for the period | 9904 | €21,244 | €155,326 | +€134,082 | +631.2% |
| Profit (loss) for the period to be appropriated | 9905 | €21,244 | €155,326 | +€134,082 | +631.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.